Adobe Systems Incorporated (ADBE) Position Raised by Citizens Financial Group Inc RI

Citizens Financial Group Inc RI increased its holdings in shares of Adobe Systems Incorporated (NASDAQ:ADBE) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 84,084 shares of the software company’s stock after acquiring an additional 1,651 shares during the quarter. Adobe Systems comprises approximately 1.2% of Citizens Financial Group Inc RI’s investment portfolio, making the stock its 23rd largest holding. Citizens Financial Group Inc RI’s holdings in Adobe Systems were worth $14,735,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ADBE. Egerton Capital UK LLP lifted its stake in Adobe Systems by 119.6% during the fourth quarter. Egerton Capital UK LLP now owns 2,932,074 shares of the software company’s stock worth $513,817,000 after purchasing an additional 1,596,653 shares during the last quarter. Schroder Investment Management Group lifted its stake in Adobe Systems by 556.2% during the fourth quarter. Schroder Investment Management Group now owns 711,219 shares of the software company’s stock worth $124,634,000 after purchasing an additional 602,832 shares during the last quarter. Atlantic Trust Group LLC lifted its stake in Adobe Systems by 117.1% during the third quarter. Atlantic Trust Group LLC now owns 1,024,227 shares of the software company’s stock worth $152,795,000 after purchasing an additional 552,491 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Adobe Systems by 9.7% during the third quarter. Ameriprise Financial Inc. now owns 5,543,635 shares of the software company’s stock worth $826,991,000 after purchasing an additional 488,904 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Adobe Systems by 290.4% during the third quarter. Assenagon Asset Management S.A. now owns 575,756 shares of the software company’s stock worth $85,891,000 after purchasing an additional 428,286 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

In related news, EVP Ann Lewnes sold 1,953 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $173.50, for a total transaction of $338,845.50. Following the transaction, the executive vice president now owns 50,497 shares of the company’s stock, valued at $8,761,229.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Garrett sold 54,488 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $187.38, for a total value of $10,209,961.44. The disclosure for this sale can be found here. Insiders have sold 351,199 shares of company stock worth $67,326,422 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Adobe Systems from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research note on Tuesday, February 13th. Argus boosted their target price on Adobe Systems from $195.00 to $234.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Evercore ISI reiterated a “buy” rating and issued a $220.00 price objective on shares of Adobe Systems in a research note on Friday, January 26th. Guggenheim reiterated a “buy” rating and issued a $230.00 price objective on shares of Adobe Systems in a research note on Tuesday, January 23rd. Finally, Stephens reiterated a “buy” rating and issued a $215.00 price objective on shares of Adobe Systems in a research note on Tuesday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $198.15.

Adobe Systems Incorporated (NASDAQ ADBE) opened at $201.56 on Monday. Adobe Systems Incorporated has a twelve month low of $117.83 and a twelve month high of $204.45. The stock has a market capitalization of $99,082.56, a P/E ratio of 56.94, a PEG ratio of 2.46 and a beta of 1.18. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.22.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, December 14th. The software company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.10. Adobe Systems had a return on equity of 22.15% and a net margin of 23.20%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. Adobe Systems’s quarterly revenue was up 24.8% on a year-over-year basis. sell-side analysts forecast that Adobe Systems Incorporated will post 5.12 EPS for the current year.

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Adobe Systems Company Profile

Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.

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Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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